Spire Wealth Management Decreases Stake in Stryker Corporation $SYK

Spire Wealth Management reduced its holdings in Stryker Corporation (NYSE:SYK) by 76.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 701 shares of the medical technology company’s stock after selling 2,252 shares during the period. Spire Wealth Management’s holdings in Stryker were worth $259,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC grew its position in shares of Stryker by 15.4% in the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock valued at $1,643,000 after purchasing an additional 609 shares in the last quarter. Intech Investment Management LLC boosted its stake in Stryker by 59.0% during the first quarter. Intech Investment Management LLC now owns 5,500 shares of the medical technology company’s stock worth $2,047,000 after buying an additional 2,040 shares during the last quarter. HBW Advisory Services LLC acquired a new position in Stryker during the second quarter worth $46,000. Parallel Advisors LLC grew its holdings in Stryker by 2.7% in the 2nd quarter. Parallel Advisors LLC now owns 19,616 shares of the medical technology company’s stock valued at $7,761,000 after buying an additional 516 shares in the last quarter. Finally, Cultivar Capital Inc. acquired a new stake in shares of Stryker in the 2nd quarter worth $237,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

Shares of SYK stock opened at $361.30 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.85. The firm has a market cap of $138.17 billion, a P/E ratio of 47.48, a P/E/G ratio of 2.35 and a beta of 0.89. The firm’s 50 day moving average price is $359.97 and its 200-day moving average price is $374.75. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19.

Stryker (NYSE:SYK) last announced its earnings results on Friday, October 31st. The medical technology company reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.13 by $0.06. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $6.04 billion. During the same quarter in the previous year, the company earned $2.87 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.84. Stryker’s dividend payout ratio is currently 46.25%.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 276,173 shares of the stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the sale, the director owned 2,702,108 shares of the company’s stock, valued at approximately $954,600,714.24. This represents a 9.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Preston Wendell Wells sold 165 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total transaction of $60,370.20. Following the completion of the transaction, the chief financial officer directly owned 6,694 shares of the company’s stock, valued at approximately $2,449,200.72. The trade was a 2.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 522,118 shares of company stock worth $185,381,932 in the last three months. 5.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SYK. Raymond James Financial raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price target on the stock in a research report on Tuesday, January 6th. The Goldman Sachs Group set a $399.00 target price on shares of Stryker in a report on Friday. Wells Fargo & Company increased their price target on shares of Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. Barclays raised their price target on shares of Stryker from $443.00 to $453.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Finally, Rothschild Redb upgraded Stryker to a “hold” rating in a research report on Thursday, September 18th. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $430.00.

Stryker Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.